Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase Following Strong Earnings

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Tuesday following a stronger than expected earnings report. 4,721,013 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 4,811,649 shares.The stock last traded at $13.13 and had previously closed at $11.65.

The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 7.21% and a negative net margin of 2.70%. The business had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $270.37 million. During the same period in the previous year, the business posted ($0.05) earnings per share. Hims & Hers Health’s quarterly revenue was up 45.8% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HIMS shares. Canaccord Genuity Group assumed coverage on shares of Hims & Hers Health in a research report on Wednesday, April 10th. They issued a “buy” rating and a $20.00 price target for the company. Imperial Capital raised Hims & Hers Health from an “in-line” rating to an “outperform” rating and set a $16.00 target price for the company in a report on Wednesday, February 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $15.00 price target (down previously from $17.00) on shares of Hims & Hers Health in a research note on Tuesday, April 16th. SVB Leerink assumed coverage on Hims & Hers Health in a report on Monday, February 26th. They set a “market perform” rating and a $10.00 price objective for the company. Finally, Seaport Res Ptn restated a “buy” rating on shares of Hims & Hers Health in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.07.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Soleil Boughton sold 2,503 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $15.65, for a total value of $39,171.95. Following the completion of the transaction, the insider now directly owns 166,866 shares of the company’s stock, valued at $2,611,452.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Soleil Boughton sold 2,503 shares of Hims & Hers Health stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.65, for a total value of $39,171.95. Following the completion of the sale, the insider now directly owns 166,866 shares of the company’s stock, valued at approximately $2,611,452.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Dudum sold 50,361 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $16.34, for a total value of $822,898.74. The disclosure for this sale can be found here. Insiders have sold a total of 736,191 shares of company stock valued at $9,733,700 in the last 90 days. 31.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. SG Americas Securities LLC bought a new stake in shares of Hims & Hers Health during the 3rd quarter valued at $280,000. Bank of New York Mellon Corp lifted its stake in Hims & Hers Health by 11.5% in the third quarter. Bank of New York Mellon Corp now owns 564,501 shares of the company’s stock valued at $3,551,000 after buying an additional 58,288 shares during the period. Mackenzie Financial Corp boosted its holdings in Hims & Hers Health by 354.2% during the third quarter. Mackenzie Financial Corp now owns 51,243 shares of the company’s stock worth $318,000 after buying an additional 39,962 shares during the last quarter. Strs Ohio increased its stake in shares of Hims & Hers Health by 33.0% in the 3rd quarter. Strs Ohio now owns 102,000 shares of the company’s stock valued at $641,000 after acquiring an additional 25,300 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Hims & Hers Health by 7.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 72,253 shares of the company’s stock valued at $454,000 after acquiring an additional 4,954 shares during the period. 63.52% of the stock is owned by institutional investors.

Hims & Hers Health Trading Up 6.1 %

The firm has a market cap of $2.65 billion, a P/E ratio of -112.36 and a beta of 0.97. The firm’s 50 day moving average is $14.04 and its two-hundred day moving average is $10.35.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.